Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Greek banks prepare plan to raid deposits to avert collapse
FT.com ^ | July 3, 2015 | Kerin Hope

Posted on 07/03/2015 5:53:34 PM PDT by House Atreides

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday.

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Extended News; Germany; Government; News/Current Events; United Kingdom
KEYWORDS: alexistsipras; bailin; bankruptcy; banks; cyprus; europeanunion; finance; france; germany; gold; greece; greecebailin; greececrisis; greekbanks; greekcrisis; nato; syriza; unitedkingdom; yanisvaroufakis
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-86 next last
To: PA Engineer

As I think about it more, this may mean gold coins of less than an ounce might be more sought after now. There are still a lot of these floating around: https://www.golddealer.com/product/swiss-20-franc/


41 posted on 07/03/2015 7:29:42 PM PDT by MSF BU (Support the troops: Join Them.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: MSF BU
Interesting article. I suspect that there will be a lot of gold coins carried out of the country by tourists and many more privately sold at a discount.

I did read the ACA and remember there was specific mention of gold. That was troubling at the time, however all of the tightening and abuse of the Structuring laws makes it very difficult to keep assets private. I can't imagine even buying Maple Leafs in Canada without raising flags.

We live in interesting times.
42 posted on 07/03/2015 7:30:11 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
[ Post Reply | Private Reply | To 31 | View Replies]

To: SaveFerris

I never had a feel for the timing. I feel right with the Lord though.
Amen


43 posted on 07/03/2015 7:31:41 PM PDT by stillfree?
[ Post Reply | Private Reply | To 40 | View Replies]

To: MSF BU
As I think about it more, this may mean gold coins of less than an ounce might be more sought after now.

Just caught up with your previous post. I believe part of the "Structuring" laws is to dampen down even smaller gold coins. I have a bad feeling about this and it all seems interconnected.
44 posted on 07/03/2015 7:33:06 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
[ Post Reply | Private Reply | To 41 | View Replies]

To: stillfree?

Seems the Messiah is the only hope.

Really, only He was anyways.


45 posted on 07/03/2015 7:36:11 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 43 | View Replies]

To: SaveFerris

What happens in September/October?


46 posted on 07/03/2015 7:36:17 PM PDT by stillfree?
[ Post Reply | Private Reply | To 34 | View Replies]

To: House Atreides

Margaret Thatcher was right about money.


47 posted on 07/03/2015 7:38:46 PM PDT by NotTallTex
[ Post Reply | Private Reply | To 1 | View Replies]

To: stillfree?

They are basing that on the shemitah (sp).

7-year cycles. ‘87, ‘01, ‘08, etc.

Perhaps a stock market adjustment? Perhaps something Biblical?

Well, we’re gonna find out too soon.

Hard to say. But there is enough secular evidence that trouble is brewing.


48 posted on 07/03/2015 7:38:48 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 46 | View Replies]

To: House Atreides

NEWS alert: Your money doesn’t belong to you, it belongs to rich bankers and government bureaucrats.


49 posted on 07/03/2015 7:43:57 PM PDT by JSDude1
[ Post Reply | Private Reply | To 1 | View Replies]

To: House Atreides

Two days ago on Bloomberg, the side bar crawl said that a bail- in was not being looked at by the Greek banks.

I told my wife that was a sure sign one was coming.


50 posted on 07/03/2015 7:45:36 PM PDT by exit82 ("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
[ Post Reply | Private Reply | To 1 | View Replies]

To: PA Engineer

I was thinking of selling in Canada, rather than buying. Even during the depression the Canadians never controlled gold. Then again, maybe it is back to junk silver. It’s certainly the easiest to accumulate.


51 posted on 07/03/2015 7:57:56 PM PDT by MSF BU (Support the troops: Join Them.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: mrsmith

Apparently somewhere in the neighborhood of $9000 is the new rich.


52 posted on 07/03/2015 7:58:26 PM PDT by Lurkina.n.Learnin (It's a shame nobama truly doesn't care about any of this. Our country, our future, he doesn't care)
[ Post Reply | Private Reply | To 17 | View Replies]

To: SaveFerris
The question is, when does it happen here?

That might well be the way our out-of-control debt is finally addressed. All the businessmen and corporations who want an endless flow of cheap labor are actually helping to create the electorate who will happily vote in lawmakers who will seize portions of bank accounts and other assets to begin paying off the debt and to meet various social justice needs.

53 posted on 07/03/2015 8:08:50 PM PDT by Will88
[ Post Reply | Private Reply | To 3 | View Replies]

To: Will88

Could very well be. I am of the opinion that 90% or more of politicians have been bought and paid for.


54 posted on 07/03/2015 8:10:02 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 53 | View Replies]

To: House Atreides

Ok. Then the banksters should face Nuremberg style trials in absentia if necessary. Then, hire bounty hunters.
The only way to stop this nonsense is to hold the international banking organizations and their members personally responsible by jailing them and confiscating their personal assets.
Little Iceland did it.


55 posted on 07/03/2015 8:12:59 PM PDT by grumpygresh (My real thoughts have been self censored.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: grumpygresh

This stuff makes me happy that I’m relatively old. Rough times ahead for all.


56 posted on 07/03/2015 8:17:06 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
[ Post Reply | Private Reply | To 55 | View Replies]

To: grumpygresh
The only way to stop this nonsense is to hold the international banking organizations and their members personally responsible by jailing them and confiscating their personal assets.

I can think of a couple of US banksters that should happen to...Tim Geithner for example.

57 posted on 07/03/2015 8:18:48 PM PDT by ROCKLOBSTER (Celebrate "Republicans Freed the Slaves Month")
[ Post Reply | Private Reply | To 55 | View Replies]

To: ROCKLOBSTER

I think at this point, the Greek government needs to nationalize the banks and kick out the international banksters. Of course, they will need to have the backing of Russia’s military and China’s gold.

This wouldn’t necessarily be in the interests of the trilateral establishment that runs the West, but it would be a way for Greece to exit serfdom. Unfortunately, they would be subject to Russia/China. Hobson’s choice.


58 posted on 07/03/2015 8:29:51 PM PDT by grumpygresh (My real thoughts have been self censored.)
[ Post Reply | Private Reply | To 57 | View Replies]

To: MSF BU
I was thinking of selling in Canada, rather than buying. Even during the depression the Canadians never controlled gold. Then again, maybe it is back to junk silver. It’s certainly the easiest to accumulate.

Agreed.
59 posted on 07/03/2015 8:43:11 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
[ Post Reply | Private Reply | To 51 | View Replies]

To: House Atreides

After the “Cyprus Incident”, I have been waiting for the nasty scenario of a banker or government official being forcibly removed from their comfortable abode, strapped (duct-taped) to a rolling office chair and publicly tortured. Guess the imagery is just too subtle...


60 posted on 07/03/2015 9:20:31 PM PDT by Artie (We are surrounded by MORONS)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-86 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson